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2021 (12) TMI 206 - HC - Income TaxUnexplained Credit u/s 68 - HELD THAT:- Any sum which as found credited in the books of the assessee maintained for any previous years and he can for more explanation about the nature and source thereof or the explanation offered by him is not satisfactory in the opinion of the Assessing Officer, such sum can be charged to income tax as the income of the assessee of that previous year. On the strength of the suspicion, AO had added the sum and charged the amount to income tax as the income of the assessee. Both the authorities have rightly held that to be an addition which is devoid of any rational.
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